Iran: Market for Pneumatic Or Hydraulic Hand Tools 2024

Market Size for Pneumatic Or Hydraulic Hand Tools in Iran

The Iranian market for pneumatic or hydraulic hand tools rose significantly to $X in 2021, with an increase of 13% against the previous year. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.2% against 2019 indices. Pneumatic or hydraulic hand tool consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Pneumatic Or Hydraulic Hand Tools in Iran

In value terms, pneumatic or hydraulic hand tool production rose significantly to $X in 2021 estimated in export price. In general, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.9% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 54% against the previous year. Pneumatic or hydraulic hand tool production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Pneumatic Or Hydraulic Hand Tools

Exports from Iran

In 2021, shipments abroad of pneumatic or hydraulic hand tools increased by 7.6% to X tons, rising for the second year in a row after three years of decline. In general, exports saw a pronounced increase. The most prominent rate of growth was recorded in 2013 with an increase of 308%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, pneumatic or hydraulic hand tool exports rose remarkably to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 139% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for pneumatic or hydraulic hand tool exports from Iran, accounting for a 81% share of total exports. Moreover, pneumatic or hydraulic hand tool exports to Oman exceeded the volume sent to the second major destination, Turkey (X tons), fivefold. The third position in this ranking was taken by Sri Lanka (X kg), with a 1.6% share.

From 2012 to 2021, the average annual growth rate of volume to Oman totaled +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+99.7% per year) and Sri Lanka (-1.0% per year).

In value terms, the largest markets for pneumatic or hydraulic hand tool exported from Iran were Turkey ($X), Oman ($X) and Sri Lanka ($X), together comprising 87% of total exports.

Turkey, with a CAGR of +79.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for pneumatic or hydraulic hand tools stood at $X per ton in 2021, approximately reflecting the previous year. In general, the export price showed a perceptible downturn. The pace of growth was the most pronounced in 2015 when the average export price increased by 53% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+66.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Pneumatic Or Hydraulic Hand Tools

Imports into Iran

In 2021, purchases abroad of pneumatic or hydraulic hand tools increased by 53% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports recorded a pronounced increase. The pace of growth was the most pronounced in 2020 when imports increased by 54%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, pneumatic or hydraulic hand tool imports soared to $X in 2021. Overall, imports, however, showed a noticeable downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest pneumatic or hydraulic hand tool supplier to Iran, accounting for a 70% share of total imports. Moreover, pneumatic or hydraulic hand tool imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-6.9% per year) and South Korea (-5.0% per year).

In value terms, China ($X) constituted the largest supplier of pneumatic or hydraulic hand tools to Iran, comprising 52% of total imports. The second position in the ranking was held by South Korea ($X), with a 6.4% share of total imports. It was followed by Turkey, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-12.6% per year) and Turkey (+2.6% per year).

Import Prices by Country

In 2021, the average import price for pneumatic or hydraulic hand tools amounted to $X per ton, flattening at the previous year. Over the period under review, the import price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 44% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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